2 ms·

:) So college degree is like POW (proof-of-work) in blockchains.

• waterhouse 5y ago
  And, estimating the cost... I see some site say $27k for tuition per year. Assume four years per person; assume people live for 80 years; assume half the population goes to college; then 1/40 of the population is attending college in any given year. If we say the U.S. has 300M people, then that's about $200 billion per year, for this proof of work. Meanwhile, this site estimates Bitcoin's annual electricity consumption at $7 billion worth: https://digiconomist.net/bitcoin-energy-consumption/ https://digiconomist.net/bitcoin-energy-consumption/
  • vkou 5y ago
    Bitcoin manages to perform ~7 financial transactions a second, whereas this 'proof of work' manages to assign jobs for ~300 million people. Some of those people even manage to learn something useful, and go on on to design things like Bitcoin and the power plants that produce electricity that is wasted by it.
    • thaumasiotes 5y ago
      > Bitcoin manages to perform ~7 financial transactions a second, whereas this 'proof of work' manages to assign jobs for ~300 million people. First, obviously, no it doesn't. But second, even if it did, would that be more or less than 7 transactions / second?